Religion Mormon Role Author | Name Matthew Simmons Children 5 daughters | |
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Full Name Matthew Roy Simmons Born April 7, 1943 ( 1943-04-07 ) Kaysville, Utah, U.S. Occupation Investment banker, author Died August 8, 2010, North Haven, Maine, United States Spouse Ellen Christine Loungee (m. ?–2010) Books Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy Parents Roy William Simmons, Elizabeth Ellison | ||
Education Harvard Business School | ||
Saving lives with the world s largest subwoofer matthew simmons at tedxauckland
Matthew Roy Simmons (April 7, 1943 – August 8, 2010) was founder and chairman emeritus of Simmons & Company International, and was a prominent figure in the field of peak oil. Simmons was motivated by the 1973 energy crisis to create an investment banking firm catering to oil companies. He served as an energy adviser to U.S. President George W. Bush and was a member of the National Petroleum Council and the Council on Foreign Relations.
Contents
- Saving lives with the world s largest subwoofer matthew simmons at tedxauckland
- Matthew simmons twilight in the desert the coming oil shock
- Saudi Arabian oil reserves
- Oil price wager
- Appearances and interviews
- Deepwater Horizon oil spill conjectures
- Wikileaks cable mention
- Death
- References
Simmons, who lived in Houston, Texas, died at his vacation home in North Haven, Maine, on August 8, 2010, at the age of 67. The cause of death was ruled "accidental drowning with heart disease a contributing factor".
Simmons was the author of the book Twilight in the Desert, published in 2005. His examination of oil reserve decline rates helped raise awareness of the unreliability of Middle East oil reserves. He gave numerous presentations on peak oil and water shortages.
Simmons believed that the Club of Rome predictions are more accurate than usually acknowledged.
Simmons was the founder of the Ocean Energy Institute in Maine. His vision was to make Maine a leader in energy from offshore wind and ocean forces. The Ocean Energy Institute ceased operations in 2011.
Matthew simmons twilight in the desert the coming oil shock
Saudi Arabian oil reserves
In his book, Simmons argues that production from Saudi Arabia and especially from Ghawar—the world's largest oil field—will peak in the near future, if it has not done so already. Simmons bases his case on hundreds of internal documents from Saudi Aramco, professional journals and other authoritative sources. However, by 2016, Saudi production had increased by more than one million barrels per day.
Oil price wager
In August 2005, Simmons bet John Tierney and Rita Simon, the widow of Julian Simon, $2500 each that the price of oil averaged over the entire calendar year of 2010 would be at least $200 per barrel (in 2005 dollars). Simmons would have lost this bet by a very wide margin: 2010 average oil prices did not even reach $100. The world-wide economic collapse created demand destruction that greatly decreased the demand for oil, causing prices to fall.
Appearances and interviews
Simmons made contributions to the films Peak Oil – Imposed by Nature, The Power of Community: How Cuba Survived Peak Oil (2006), The End of Suburbia, Crude Impact, and Crude Awakening: The Oil Crash, and appeared on World Energy Television World Energy Video Interview, August 2008
Deepwater Horizon oil spill conjectures
Simmons made several controversial comments and predictions regarding the Deepwater Horizon oil spill and BP's solvency, including:
Wikileaks cable mention
The Guardian reported that Simmons was mentioned in a leaked U.S State Department cable dated November 2007:
COMMENT: While al-Husseini believes that Saudi officials overstate capabilities in the interest of spurring foreign investment, he is also critical of international expectations. He stated that the IEA's expectation that Saudi Arabia and the Middle East will lead the market in reaching global output levels of over 100 million barrels/day is unrealistic, and it is incumbent upon political leaders to begin understanding and preparing for this "inconvenient truth." Al-Husseini was clear to add that he does not view himself as part of the "peak oil camp," and does not agree with analysts such as Matthew Simmons. He considers himself optimistic about the future of energy, but pragmatic with regards to what resources are available and what level of production is possible. While he fundamentally contradicts the Aramco company line, al-Husseini is no doomsday theorist. His pedigree, experience and outlook demand that his predictions be thoughtfully considered.
Death
Simmons was found dead on August 8, 2010, in his hot tub. An autopsy by the state medical examiner’s office the next day concluded that he died from accidental drowning with heart disease as a contributing factor.